8/1/2019, 7:15 AM (Source: TeleTrader)
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Chart for: SIEMENS AG  NA O.N.

Siemens' Q3 revenue at €21.3B, up 4% YoY

Siemens AG reported on Thursday its revenue for the third quarter of fiscal 2018 stood at €21.27 billion, marking a 4% increase compared to the same time period last year. Net income amounted to €1.14 million, 6% lower than in the same three months in 2018. Earnings per share also fell 6% to €1.28. Adjusted EBITA stood at €1.93, decreasing 12% versus the Q3 the year prior.

Orders were up 8% to €24.51 billion year-on year. Siemens' Gamesa Renewable Energy led the growth, followed by Healthineers and Mobility businesses. At the same time, the company's Gas and Power experienced significant decrease in orders.

"Despite a significantly weaker environment in our key markets, we confirm our outlook for the year. As indicated already quite some time ago, geopolitics and geoeconomics are harming an otherwise positive investment sentiment. A robust mobility sector and stringent project execution will help us make good on our promises for the year," Siemens Chief Executive Officer Joe Kaeser stated.

Baha Breaking News (BBN) / MD